Bermuda-based Everest Re Group, Ltd., announced yesterday that former Arch Insurance chief executive officer Ralph E. Jones III will become the company's president and chief operating officer on Monday.
The firm said Thomas J. Gallagher, who has held those posts since 1997, has been named vice-chairman and chief underwriting officer, also effective as of Monday.
Everest Re said Mr. Jones, who joined the company board in September, has more than 30 years of insurance industry experience.
Mr. Jones previously served as chairman and chief executive officer of Arch Insurance Group, a division of Arch Capital Group, Ltd., from September 2003 until retiring this July.
Prior to joining Arch, Mr. Jones had been CEO of Chubb Specialty Insurance, a strategic business unit within the Chubb Group of Insurance Companies.
Joseph V. Taranto, Everest Re chairman and CEO, said, "We are very pleased to have a highly experienced executive of Ralph's caliber join the Everest team. His extensive insurance expertise and strong business background will be instrumental in the continued success of our organization."
Mr. Jones and Mr. Gallagher, he said will enhance the reinsurer's positioning "as we move to take advantage of the exciting opportunities we expect in 2009."
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